Historical background of Bangladesh Economy
Bangladesh has a great economic history. This area was very rich and developed. Some harpy foreign & native people seized this area and made us the middle class.
After a long, Bangladesh got independent in 1971 from Pakistan. This confiscated & war-affected economy suffered political instability and overpopulation. Now, this country is good at the apparel industry and human resource export.
GDP of BANGLADESH
Bangladesh has the 39th largest GDP throughout the world. In 2019-20, its nominal GDP is TK 27,963,782 million while in the year of 2018-19 its GDP was TK 25,424,826 million. In the year 2019-20 total population of Bangladesh is 167.56 million. Bangladesh has a higher GDP than most other countries in the world.
Export and import of Bangladesh
The economy of Bangladesh is in a stable position because of the export sector. Ready-made garments and knitwear have the highest contribution to the export of this country.
In July 2020, the total foreign currency reserve of Bangladesh bank is $32093.3 million.
The total import in 2018-19 is worth $56061 million. The total export in 2018-19 is worth $40535.04 million and in 2019-20 the total earning from exporting products is $33674.09 million.
An overview of Bangladesh Bank
Bangladesh Bank (BB) was established as a central bank to accelerate the growth of the Bangladeshi economy as well as to take the better monetary policy and to lead other banks. It is a fully government owned bank.
The name of the central bank of Bangladesh is Bangladesh bank. Immediate after independence, in 1972, the former state bank of Pakistan which was in Bangladesh, turns into Bangladesh bank with all assets and liabilities.
Foreign Employment and Remittances to Bangladesh
The total number of foreign workers is about 12000000 who are working on about 173 countries. In the year 2018-19, the total immigrant worker went abroad was 659043 and total remittance collected at that time was $16.42 billion. From them, the male is 551478 and the female is 107565.
An Overview of Government Banks in Bangladesh
In Bangladesh there are six state-owned commercial bank, three specialized govt banks; those are scheduled banks. There is also three govt owned non-schedule bank. Banks are mainly two types of scheduled banks and non-scheduled banks. Specialized banks are parts of the scheduled bank in BD.